INTRADAY TRADING: HOW TO SELECT STOCKS

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There are a few rules for choosing stocks for intraday trades. While your focus on intraday trading tips is good, spend some time on the stock selection as well.

The first rule is trade in liquid stocks. You do not want to get stuck when you want to exit an intraday position. Illiquid counters do the opposite of what successful share market tips do. Always use nse intraday calls or bse intraday calls in sufficiently liquid counters. Gain confidence and then eye intraday derivative technical trades.

Second rule is to pick stocks that have medium to high volatility. When you get a list of ' intraday tips for today ', pay attention to the volatility of the stocks. Do not trade in stocks that exhibit very low swings. Then, your target price may never be reached in a day. As part of your intraday trading strategies, stick to stocks with fair amount of volatility.

Third rule is trading only with the current intraday trend. Avoid taking contra positions that are diametrically opposite to general market movement for the day. Be it free intraday tips or paid intraday tips for today, if you go against Mr. Market there can be bad consequences.

Fourth rule is to trade strong stocks in an uptrend, and trade weak in stocks in a downtrend. This rule must be practiced diligently. Even if you have the best intraday tips, trading strong in stocks in downtrend is a recipe for disaster.

Fifth rule is to be patient. Many investors using intraday trading tips often get impatient. You may be required to wait. When there is a pullback, trades can pay handsome profits. So, make patience an integral part of your intraday trading be it equity or commodity.

Sixth and final rule is to take regular profits from intraday stock tips that are working. There will always be trades where you make money, and trades where you don't make money. It is important to monetize share market tips that are showing gains. Profit booking helps you gain confidence.